Bernie Madoff’s old homes are hitting the market with some jaw-dropping price tags

Madoff’s old homes have been skyrocketing in value.

216 Old Montauk Highway | The Madoffs’ former home in Montauk, N.Y., is on the market for $21 million. The current owners did a full renovation on the property since purchasing it in 2009 for $9.41 million. Photos: Chris Foster for Corcoran

216 Old Montauk Highway | The Madoffs’ former home in Montauk, N.Y., is on the market for $21 million. The current owners did a full renovation on the property since purchasing it in 2009 for $9.41 million. Photos: Chris Foster for Corcoran

216 Old Montauk Highway | The Madoffs’ former home in Montauk, N.Y., is on the market for $21 million. The current owners did a full renovation on the property since purchasing it in 2009 for $9.41 million. Photos: Chris Foster for Corcoran

216 Old Montauk Highway | The Madoffs’ former home in Montauk, N.Y., is on the market for $21 million. The current owners did a full renovation on the property since purchasing it in 2009 for $9.41 million. Photos: Chris Foster for Corcoran

216 Old Montauk Highway | The Madoffs’ former home in Montauk, N.Y., is on the market for $21 million. The current owners did a full renovation on the property since purchasing it in 2009 for $9.41 million. Photos: Chris Foster for Corcoran

216 Old Montauk Highway | The Madoffs’ former home in Montauk, N.Y., is on the market for $21 million. The current owners did a full renovation on the property since purchasing it in 2009 for $9.41 million. Photos: Chris Foster for Corcoran

(New York, NY) — It was back in 2008 when Bernie Madoff was arrested for his $50 billion Ponzi scheme, but interestingly enough, over the past decade his old homes have been skyrocketing in value.

The former homes include a Manhattan penthouse on East 64th Street, and vacation homes in Palm Beach, the French Riviera, and Montauk.

Mr. Madoff was put under house arrest for several months at his East 64th Street home in Manhattan. PHOTO: Elliman.com

Mr. Madoff was put under house arrest for several months at his East 64th Street home in Manhattan. PHOTO: Elliman.com

Mr. Madoff was put under house arrest for several months at his East 64th Street home in Manhattan. PHOTO: Elliman.com

Mr. Madoff was put under house arrest for several months at his East 64th Street home in Manhattan. PHOTO: Elliman.com

The Manhattan penthouse which was sold for only $8 million in 2010 is worth nearly $14.5 million today.

Madoff’s former Montauk home was originally sold for $9.4 million but has recently been re-listed for $21 million.

Described as a “classic island home.” The mansion, at 410 North Lake Way, is nearly 8,800 square feet and has five bedrooms and seven baths. The property has a pool, water views and deep-water dockage. Photo Via VHT and The Corcoran Group

Described as a “classic island home.” The mansion, at 410 North Lake Way, is nearly 8,800 square feet and has five bedrooms and seven baths. The property has a pool, water views and deep-water dockage. Photo Via VHT and The Corcoran Group

Described as a “classic island home.” The mansion, at 410 North Lake Way, is nearly 8,800 square feet and has five bedrooms and seven baths. The property has a pool, water views and deep-water dockage. Photo Via VHT and The Corcoran Group

Described as a “classic island home.” The mansion, at 410 North Lake Way, is nearly 8,800 square feet and has five bedrooms and seven baths. The property has a pool, water views and deep-water dockage. Photo Via VHT and The Corcoran Group

Described as a “classic island home.” The mansion, at 410 North Lake Way, is nearly 8,800 square feet and has five bedrooms and seven baths. The property has a pool, water views and deep-water dockage. Photo Via VHT and The Corcoran Group

Described as a “classic island home.” The mansion, at 410 North Lake Way, is nearly 8,800 square feet and has five bedrooms and seven baths. The property has a pool, water views and deep-water dockage. Photo Via VHT and The Corcoran Group

Described as a “classic island home.” The mansion, at 410 North Lake Way, is nearly 8,800 square feet and has five bedrooms and seven baths. The property has a pool, water views and deep-water dockage. Photo Via VHT and The Corcoran Group

Described as a “classic island home.” The mansion, at 410 North Lake Way, is nearly 8,800 square feet and has five bedrooms and seven baths. The property has a pool, water views and deep-water dockage. Photo Via VHT and The Corcoran Group

Described as a “classic island home.” The mansion, at 410 North Lake Way, is nearly 8,800 square feet and has five bedrooms and seven baths. The property has a pool, water views and deep-water dockage. Photo Via VHT and The Corcoran Group

Described as a “classic island home.” The mansion, at 410 North Lake Way, is nearly 8,800 square feet and has five bedrooms and seven baths. The property has a pool, water views and deep-water dockage. Photo Via VHT and The Corcoran Group

Described as a “classic island home.” The mansion, at 410 North Lake Way, is nearly 8,800 square feet and has five bedrooms and seven baths. The property has a pool, water views and deep-water dockage. Photo Via VHT and The Corcoran Group

The Palm Beach home, now listed at $12 million is worth double its original price, and the French Riviera home went from $1.3 million to $1.6 million.

The Madoff home on the French Riviera, sold in 2009 by local authorities for about $1.3 million, is valued at about $1.6 million today. PHOTO: BLOOMBERG NEWS

However, according to the Business Insider, the rise in value has nothing to do with Madoff and can be entirely explained by massive renovations.

As for Madoff, also known as prisoner number 61727-054, he will continue to live out his days in a dorm-like prison cell.